APR Calculator

Find the true annual percentage rate of a loan including upfront fees. Results update as you type.

Loan amount

Monthly payment

Term (months)

Upfront fees

Annual percentage rate (APR)

0.00%

Cost breakdown

apr_howto

Results are estimates for education only and are not financial advice.

Why is APR higher than my interest rate?

apr_faq_a

apr_formula

Subtract upfront fees from the loan amount to get the net amount received.
Guess a monthly rate and discount all payments back to today to get their present value.
Adjust the guess up if the present value is above the net amount, and down if it is below, repeating 100 times.
Multiply the monthly rate found by 12 for the APR. Total interest is the total of payments minus the loan amount.

apr_example

Should I always pick the lowest APR?

apr_faq2_a

Does APR include all costs?

apr_faq3_a